Govt lures Saudi private sector to invest in Tanzania

ZANZIBAR:THE government has encouraged the Saudi Arabia private sector to explore and utilise the investment opportunities available in both Zanzibar and Tanzania mainland.

The call was made at the Saudi-Tanzania roundtable meeting on the sidelines of the recent ‘Saudi-African summit,’ which was attended by President Samia Suluhu Hassan.

Tanzania Ambassador in Saudi Arabia, Dr Mohamed Abdallah Juma said the Minister for Livestock and Fisheries, Abdallah Ulega and Saudi Minister for Investment Eng Khalid bin Abdulaziz Al-Falih along with other high-level officials from both countries attended the sideline meeting held in Riyadh.

“The meeting explored ways to strengthen and increase investments by leading Saudi and Tanzania companies,” the Ambassador Mohamed explained through telephone call.

He added that the meeting coordinated by his office also reviewed investment opportunities in the Kingdom of Saudi Arabia and Tanzania, and ways to enhance economic and investment ties, foster quality investments and enable the private sector to benefit from investment opportunities in both nations.

Dr Juma said “Aspects of investment partnership in various sectors including trade, investment, tourism, finance, energy, healthcare, food security, agriculture, animal husbandry, infrastructure, petrochemicals, mining, ICT, real estate, construction and logistics were also discussed.”

The ambassador explained that 25 Saudi companies with representatives from development sectors of trade, investment, finance, energy, livestock, agriculture, communications, industry, energy and health sectors participated in the meeting.

He expressed his sincere appreciation to the Saudi stakeholders for collaboration in organising and participating in the meeting.

The Saudi companies that were represented include Saudi Basic Industries Corporation (SABIC), ACWA Power, Saudi Arabian Mining Company (MAADEN), Taqa Company and Saudi Agricultural Investment and Livestock Company (SALIC).

Others were Almarai Company, STC Group, Federation of Saudi Chambers, International Finance Corporation, Saudi Fund for Development, Global Investment Fund, Saudi Export-Import Bank (EXIM Bank), Al Rajhi International Investment Company, PIMCO Company, Saudi Gold Refining Company and InterHealth.

Alshairif Group, Alkhorayet, Fawaz Alhokair Group, Al-marai Company, Al-Bawani Holding Group, Red Sea Gateway Terminal, Company of Mutawifs for Pilgrims from African non-Arab countries were other companies.

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